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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Christopher Watts X-To: John Kinser, Kayne Coulter, Rudy Acevedo, Don Baughman, Joe Errigo, Juan Hernandez, Dean Laurent, Doug Miller, Chad Starnes, Joe Stepenovitch, Miguel Garcia, Benjamin Rogers, Steve Olinde, Mauricio Trejo, Dustin Collins, Patrick Hanse, Larry Jester, Juan Padron, Larry F Campbell X-cc: X-bcc: X-Folder: \Larry_Campbell_Jun2001\Notes Folders\Notes inbox X-Origin: Campbell-L X-FileName: lcampbel.nsf ---------------------- Forwarded by Christopher Watts/NA/Enron on 05/08/2001 07:28 AM --------------------------- "Chris Watts" <cwatts3@houston.rr.com< on 05/07/2001 09:45:35 PM To: <christopher.watts@enron.com< cc: Subject: Fw: power trading: Trading Driving Earnings Growth - Firms Boost Margins, Volumes. ----- Original Message ----- From: <djcustomclips@djinteractive.com< To: <276682@sm3.texas.rr.com< Sent: Monday, May 07, 2001 9:12 PM Subject: power trading: Trading Driving Earnings Growth - Firms Boost Margins, Volumes. < Trading Driving Earnings Growth - Firms Boost Margins, Volumes. < < 05/07/2001 < Natural Gas Week < P7 < © 2001 Energy Intelligence Group. All rights reserved < < Natural gas and power marketing results are contributing to hefty earnings < growth at integrated utility and energy services companies for the first < quarter of 2001. Only PG&E failed to increase net proceeds from marketing and < trading. < < Aquila: The unregulated affiliate of UtiliCorp United had a stellar first < quarter in both marketing and trading and power generation. Net income rose < 350% to $49.3 million (57 cents/share) on revenues of $11 billion, up from net < income of $10.8 million (13 cents/share) on revenues of $4 billion a year ago. < The earnings jump came from improved margins more than higher volumes. Natural < gas sales were off slightly to 10.4 Bcf/d from 10.7 Bcf/d, but electricity < volumes rose to 49.7 million MWh from 44.7 million MWh. < < Following the recent initial public offering, Aquila is now a publicly traded < company, but UtiliCorp continues to hold an 80% stake (17#19-21). < < CMS Energy: The combined utility/energy services company reported double-or < triple-digit growth rates in all business sectors for the first quarter. Net < income climbed to $109 million (85 cents/share) on revenues of $4.1 billion, < compared to earnings of $75 million (65 cents/share) on revenues of $1.8 < billion. < < Natural gas and power marketing, services and trading, and exploration and < production showed the largest percentage gains, but regulated utility < operations remain the major source of earnings. CMS' liquefied natural gas < terminal at Lake Charles, Louisiana, received a record 15 cargoes in the first < quarter. < < Power and gas marketing volumes were not available at press time. < < Oneok: The Oklahoma-based integrated utility benefited from two acquisitions < last year. Income available to common was $55.6 million ($1.30/share) on < revenues of $3 billion, up from income to common of $53.8 million < ($1.28/share) on revenues of $821.8 million in the year-ago quarter. Figures < for the 2001 period were affected by an accounting charge. < < Natural gas trading was the big driver for revenues. Wholesale volumes rose < almost 75%, and total gas sales climbed to 4.2 Bcf/d from 2.7 Bcf/d. Oneok < bought the former KN Energy trading business from Kinder Morgan last spring. < < PG&E: The parent of bankrupt Pacific Gas and Electric had a net loss of $951 < million ($2.62/share) on revenues of $6.7 billion, compared to year-ago net < income of $280 million (77 cents/share) on revenues of $5 billion a year ago. < The loss was due to unreimbursed wholesale power costs at the California < utility. < < Segment earnings showed that contributions from natural gas pipeline < operations could not offset declines in the utility and unregulated marketing < and trading businesses. Gas and power sales volumes were not available at < press time. < < TXU: US operations pushed earnings higher for TXU. The integrated utility had < net income of $196 million (76 cents/share) on revenues of $8.4 billion, < compared to net income of $193 million (71 cents/share) on revenues of $4.8 < billion. Per-share results were affected by a decrease in the number < outstanding. The higher revenues came from both regulated and unregulated < operations. < < Natural gas sales rose to 4.7 Bcf/d from 4.6 Bcf/d as increased retail volumes < offset a decline on the wholesale side. US electricity sales were up markedly < to 5.4 million MWh from 3.7 million MWh. < < - Barbara Shook. < < < < Folder Name: power trading < Relevance Score on Scale of 100: 96 < < ______________________________________________________________________ < < To review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.) < ______________________________________________________________________ < < Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved <
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